Neobo Fastigheter AB (publ) (NEOBO) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Neobo Q2 Report 2025. During the questions and answers session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to CEO Ilva Sarbi-Westman. Please go ahead. Thank you and good morning everyone and welcome to the presentation of Neobo's Interim Report January to June 2025. My name is Ylva Saarby Westman and I'm joined here today by our CFO Maria Strandberg. Despite a turbulent global environment, we have remained focused on our core business, creating attractive, sustainable living environments where people can thrive and feel secure. And it's rewarding to see our efforts paying off and that we are on the right track. Profit from property management increased by 50% in the first six months of the year, despite seven properties being divested last year. Rental income in the Like4Like portfolio increased by 4% and net operating income improved by 12% in the Like4Like portfolio as a result of both higher rental income and lower property management costs. We are reporting positive unrealized value changes in the property portfolio of 11 million as a result of stabilized yield requirements and increased net operating income due to investments being made in the portfolio. The property portfolio now has a value of 13.8 billion, comprising 8,300 apartments, and residential properties account for 95% of the total value. Rent negotiations for 2025 are completed with an average increase of 4.8% in the residential part of the portfolio. We continue to create value through strategic improvements and since the start of the year we have invested 109 million to improve the attractiveness and safety of our properties. Residential vacancies increased by 27 apartments during the quarter. However, curr...